Starbucks (SBUX) believes so strongly in this Magritte-like idea that it is preparing to expand an experiential niche brand—the Starbucks Reserve Roastery and Tasting Room. The Roasteries—the first one is open in Seattle—are considered so important to Starbucks’ future that they will soon occupy the attention of Howard Schultz, the legendary CEO and chairman who introduced quality coffee to strip-mall America. When Schultz announced these changes, he described the U.S. as “over-retailed,” a buzzword that arguably applies as much to Starbucks, which has stores seemingly everywhere, as to any of the 3.8 million retail stores in the U.S. The antidote to the condition—and it sounds millennial-minded—is creating retail destinations that offer experiences.

Coca-Cola CEO Muhtar Kent will step down from that role next year and be succeeded by the company's No. 2 executive, at a time when people are drinking less sugary soda including its flagship Coke drink. ...